Zubairu, however, stressed that the success of the government's latest trade initiative would depend largely on the willingness of Nigerian businesses to embrace the opportunities created by the new export corridor.
Speaking in an exclusive interview with The PUNCH, the AFC president said expanding trade links across the continent was a practical step towards bringing the AfCFTA agreement to life and strengthening economic integration among African countries.
"Nigeria's expansion of trade routes to the East-Southern Africa region is a very good initiative. And we, of course, encourage all Pan-African trade initiatives. We think that it will be helpful in the implementation of the African Continental Free Trade Agreement that we have.
"And it is only through initiatives like this that you give them life. So we think that companies should embrace it. I mean, the government has made the pronouncement, but it is companies that will make it work," Zubairu said.
He urged Nigerian exporters and manufacturers to take advantage of the expanded market access while leveraging financing options available through commercial banks operating across the continent.
According to him, financial institutions are well-positioned to support businesses looking to expand into new African markets, while the African Finance Corporation remains available to strengthen trade financing through partner banks.
"So companies should see it as an opportunity. And they should pursue the opportunity. And we have lots of banks in Nigeria and in the region. So all of those banks will provide support.
"And they should seek the support of those banks. And if we are required to provide support, we are also happy to do so. But people should always remember that we are an infrastructure and industrial bank, not a trade bank. But we can support the banks with trade lines," Zubairu added.
The Federal Ministry of Industry, Trade and Investment recently inaugurated the expanded Nigeria-East and Southern Africa Air Cargo Corridor in partnership with RwandAir as part of Nigeria's commitment to implementing the AfCFTA agreement.
The expanded corridor provides exporters with direct access to Kigali in Rwanda, Lusaka in Zambia and Harare in Zimbabwe, while also offering an additional cargo service for goods destined for Nairobi, Kenya, and Johannesburg, South Africa.
To encourage participation, the ministry announced that exporters holding an AfCFTA Certificate of Origin issued by the Nigeria Customs Service would enjoy significantly reduced cargo charges of less than $2 per kilogramme across the five destinations. The new rate represents a sharp reduction from the previous cost of between $3 and $10 per kilogramme.
Speaking during the inauguration on June 19, the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, said the initiative was designed to lower the cost of doing business for Nigerian exporters and improve their competitiveness across African markets.
"Our goal is clear: to make it easier and cheaper for Nigerian businesses to trade across Africa. One year ago, we launched this corridor to solve a real problem for exporters — the high cost of moving goods into African markets.
"Today, with RwandAir, we are widening that corridor, opening more routes, and giving our exporters more options to compete. With eight businesses receiving AfCFTA Certificates of Origin today, we are also showing that this is not just about policy — it is about real businesses, real exports, and real market access. This is AfCFTA in action," Oduwole said.
According to the minister, the air cargo corridor has already demonstrated its impact, recording a 40 per cent increase in export volumes within its first year of operation after it was launched in 2025 in collaboration with Uganda Airlines.
She noted that the initiative is expected to further support businesses operating in agribusiness, fashion and textiles, cosmetics, processed foods and light manufacturing, while advancing Nigeria's broader goals of industrialisation, export diversification and deeper participation in the African single market.